Eildon Capital Group (ASX:EDC), a company specialising in providing innovative property investment solutions and tailored real estate finance, has announced an update regarding its Kings Investment and FY25 financials. The update pertains to the mezzanine loan facility for the Kings-Newport Village project in Victoria. As previously announced in April 2025, the loan was initially due for repayment on 31 March 2025, but an extension was granted until 30 September 2025. The extended terms included an interest rate of 16.5% compounding monthly and a $1.5 million repayment due on or before 30 June 2025 to reduce the project debt.
However, Eildon Capital Group has advised that the borrower has not made the $1.5 million repayment and has confirmed its inability to do so in the near term. As of 30 June 2025, the outstanding loan balance stands at $12.4 million. The board is currently evaluating various options concerning this investment, and further details will be provided as they become available.
In addition to the Kings Investment update, Eildon Capital Group also addressed its FY25 financials and exposure to the Melbourne market. The company noted that slower-than-expected sales velocity in Melbourne has impacted its loan exposure in the region. Consequently, there is a likelihood of a provision against these loans in the Group’s 2025 accounts. The specific amount of this provision is yet to be determined.
